Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
A case has been registered against Delhi Chief Minister Atishi for violating the code of conduct.
India's victory celebrations against New Zealand in the Champions Trophy are continuing. Meanwhil
Draupadi Murmu will be the next President of the country. It was only after three rounds of count
India COVID Update: The country got control over Corona, and the positive rate is decreasing rapidly
There is a decrease in the cases of corona in the country. According to the report presented by t
Haryana's wrestler Bajrang Punia, who got the country gold in the Commonwealth, is more than happ
India-Russia: India-Russia will increase cooperation on various forums in combating terrorism
India and Russia discussed issues related to the agenda of the United Nations Security Council. A
There is still confusion about the date of Diwali. The scholars of Kashi say that the festival of
US Navy Chief made such a statement about India, China will be furious with anger
United States Chief of Naval Operations Admiral Mike Gilday has said that India will be an import
A massive fire broke out in a pipe godown in Ratlam, Madhya Pradesh on Thursday morning. After tw
Last month, China removed all the stringent restrictions imposed in the country regarding the cor
